Dear Richard, That was a quick reply. I am still wading through Knapp. Very repetitive. Re page 175. My complaint was that you did not dismiss this stuff as...
Geoffrey, Thanks for your response. I must respond more completely soon, but for now just a few points: I never suggested that in Europe or ancient Middle East...
081203 You will find http://chestofbooks.com/finance/banking/Banks-And-Banking/Chapter-XXV-Development-Of-Bills.html very useful. As you will see, Parliament...
081205 Gardiner The level of ignorance and stupidity among in the media is breathtaking. This morning we had two people on BBC who wanted less borrowing and...
Well, Geoffrey, that ³someone² probably will have to be you. Will not the FT publish this? In Berlin, ³our guys² decried that the monetarists have such an...
Michael, Funny you should say this. I sent a copy to Charles Goodhart. I will await his response. I have just looked at his Berlin paper. Seems to be the old...
Geoffrey. You are right that IS/LM is boring. You are wrong that it is not wrong! The real Keynes was a creditary economist who served up the IS/LM stuff of...
The FSA proposals are at http://www.fsa.gov.uk/pubs/cp/cp08_22.pdf One objective is less reliance on short-term wholesale funding, including on wholesale...
Gunnar, Succinct, as ever, and devastating. Geoff . ... From: GUNNAR TOMASSON To: gang8@yahoogroups.com Sent: Friday, December 05, 2008 5:30 PM Subject: RE:...
Well, Geoffrey, 85% of Latvians still don¹t have a mortgage. Only the kleptocrats have mortgages. So ³the poor are honest,² but not these guys! Michael On...
Dear Gunnar, I wish you could give the reference on Mill. He was simply repeating Ricardo, who WANTED to mislead in this way as lobbyist for the banking ...
Dear Michael. The reference is the correspondence between James Mill and David Ricardo when Mill sent Ricardo a book manuscript on monetary issues by Jeremy...
This group and many others have seen this crisis coming for more than one decade, and this goes for the housing market since the dot.com crisis in 2000 (to...
081206 Gardiner to Gang. Arestis, Wray, Moore Greetings to all Samuel Brittan's recent article in the Financial Times to which Michael Moore so kindly brought...
Dear Arno. As noted before, Paul Krugman’s NYT column of October 7, 2008, "Crisis on my mind", elicited the following comment from yours truly: 2.October...
Thanks, Gunnar. I sold my collected works of Ricardo years ago, as it was gathering dust. I didn¹t think I¹d have reason to consult it again. But I remember...
Michael, Here is one of James Mill's comments on monetary economics Jeremy Bentham style: “Hanging, a thousand times repeated, is not too severe punishment...
And how many thousands of people does ³sound money² hang, by its deflationary consequences? Michael ... Re: [gang8] Bank Rate And how many thousands of...
All: i also very much like the Friedman paper. I used it as the basis of a "friedmanian proposal" some years ago (on the www.cfeps.org website), and also sent...
Wray, Randall
wrayr@...
Dec 8, 2008 1:35 am
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Stephen, you asked me to write some on this issue. Your and I visited the CRS - Camp Rising Sun camp upstate New York in the fall of 2002. Yesterday I went to...
Thanks, Geoffrey, for your thoughts. I read this as an elaboration of the difference between investment in physical capital and in finance (it would indeed be...
Economics as fraud Bystanders to this financial crime were many By Nassim Nicholas Taleb and Pablo Triana Published: December 7 2008 19:18 | Last updated:...
Dear Friends of the American Monetary Institute, (Please forward) An historic development has occurred. Congressman Dennis Kucinich of Ohio, U.S. Presidential...
AMI
ami@...
Dec 9, 2008 5:56 am
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The piece below, taken from the appendix that I wrote in the paper with Richard, bears on your discussion. The question of whether capital gains should be...
Dirk, 'Holding gain' seems to have acquired a new meeaning. The term was invented in the 1970s as part of the jargon of 'Current Cost Accounting' to describe...
I suggest two amendments. Clause four assumes that credit creation is always profitable and as drafted the clause will evoke derision in view of the huge...
Thanks, Geoffrey. My guess is that Stephen will ask you to write how the actual clause SHOULD read. It¹s hard to say just what you¹re thinking. What term...
Michael, The term seigniorage is vague but seems to imply a monopoly. A monopoly means one seller. Anyone can set up a bank. There is no more a monopoly than...
Dear Geoffrey, Interesting. Can you elaborate how the UK¹s mode of bank lending wrecked your manufacturing industry? That¹s really what we should be...
081211 Yes, Michael, It goes back before the introduction of the credit card to the UK in 1966, an event which gradually wrecked credit control and exchange...
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